General Mills is selling its European Yoplait business in exchange for full control of the same brand in Canada, a move that concentrates the company’s yogurt enterprise in North America.
The company said Tuesday that it will sell its 51% controlling interest in Yoplait S.A.S., the brand’s European unit, to French dairy cooperative Sodiaal. In return, the French firm will sell General Mills its 49% stake in Yoplait Canada Holding Co.
The deal is expected to close in late 2021, at which time General Mills will fully own Yoplait in Canada.
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